Take-Two Reports Results for Q1 FY 2013
Max Payne 3 and Spec Ops: The Line fall below expectations, GTA V remains a mystery
Take-Two Interactive Software has reported financial results for the first quarter of its fiscal year 2013, ended June 30, 2012.
For the first quarter of fiscal 2013, net revenue was $226.1 million, as compared to $334.4 million for the first quarter of fiscal 2012.
The strongest contributors to net revenue in the first quarter were the release of Max Payne 3, catalog sales led by the Grand Theft Auto franchise and Red Dead Redemption, the release of Spec Ops: The Line, and continuing sales of NBA 2K12.
Catalog sales grew 50% year-over-year and accounted for 26% of net revenue. Revenue from digitally delivered content grew 33% year-over-year and accounted for 14% of net revenue, driven by offerings for the Sid Meier's Civilization franchise, the Grand Theft Auto franchise, the Max Payne franchise, NBA 2K12, and Red Dead Redemption.
"Although our first quarter results were below expectations due to lower-than-anticipated sales of Spec Ops: The Line and Max Payne 3, the outlook for our slate of upcoming releases is stronger than ever," said Strauss Zelnick, Chairman and CEO of Take-Two.
In the next quarter, the publisher plans to ship Borderlands 2 and NBA 2k13. Grand Theft Auto V was listed in upcoming titles list, without any release window or platforms.
For the first quarter of fiscal 2013, net revenue was $226.1 million, as compared to $334.4 million for the first quarter of fiscal 2012.
The strongest contributors to net revenue in the first quarter were the release of Max Payne 3, catalog sales led by the Grand Theft Auto franchise and Red Dead Redemption, the release of Spec Ops: The Line, and continuing sales of NBA 2K12.
Catalog sales grew 50% year-over-year and accounted for 26% of net revenue. Revenue from digitally delivered content grew 33% year-over-year and accounted for 14% of net revenue, driven by offerings for the Sid Meier's Civilization franchise, the Grand Theft Auto franchise, the Max Payne franchise, NBA 2K12, and Red Dead Redemption.
"Although our first quarter results were below expectations due to lower-than-anticipated sales of Spec Ops: The Line and Max Payne 3, the outlook for our slate of upcoming releases is stronger than ever," said Strauss Zelnick, Chairman and CEO of Take-Two.
In the next quarter, the publisher plans to ship Borderlands 2 and NBA 2k13. Grand Theft Auto V was listed in upcoming titles list, without any release window or platforms.
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